Economist’s “News and Views” 10-27-2024

G7 Banking Giant Joins China’s RMB Payments System, Bypassing USD In Global Trade

Sean Foo:  10-27-2024

In a big move, UK banking Giant, HSBC, has officially joined China's interbank cross-border payment system.

This is a signal that no matter the political pressure from the US, China's economy is just too important to ignore.

Meanwhile, China is preparing for a fierce economic battle in 2025 where the stimulus bazooka could be fired again.

Timestamps & Chapters:

 0:00 UK Giant Joins China Payments System

2:57 China's Economy Too Big To Ignore

6:17 Beijing's Russian Advantage

 8:33 Yellen Scolds China Again

9:25 Unthinkable Economic War In 2025

11:57 Big Stimulus Bazooka Coming

https://www.youtube.com/watch?v=Rjr7p8PAdAY

Why Social Security Is On Borrowed Time

Lynette Zang:  10-27-2024

Today we are talking about social security and the looming crisis that's about to hit as the entire program is on borrowed time.

https://www.youtube.com/watch?v=clEZUlxPFVI

IMF WARNS “New Financial Crisis”: Your Savings at Risk

Taylor Kenny:  10-27-2024

Discover the truth behind shadow banking and the unregulated lending sector threatening global financial stability. Learn how shadow banks, which operate outside traditional regulations, pose a significant risk to your savings and financial security.

Find out why financial experts are warning of a potential crisis and what you can do to protect yourself.

CHAPTERS:

00:00 Introduction to Shadow Banking

00:35 The Growing Threat of Shadow Banks

 01:09 The Size and Scope of Shadow Lending

02:22 Lack of Regulation and FDIC Limitations

 03:37 IMF Warnings on Shadow Banking Risks

04:12 Traditional Banks’ Risk from Shadow Banking

05:24 Increased Volatility as the New Norm

06:33 Potential Economic Fallout and Hyperinflation

 08:12 Protecting Wealth Outside the System

 08:50 How to Take Action for Financial Security

09:52 Conclusion

https://www.youtube.com/watch?v=SC9ZtwasAng

News, Rumors and Opinions Sunday Afternoon 10-27-2024

KTFA:

Clare:  Prime Minister: The government is moving forward with the growth of the oil and gas sectors

10/28/2024

Prime Minister Mohammed Shia al-Sudani discussed today, Sunday, with Oil Minister Hayan Abdul-Ghani al-Sawad the government's previous plans for the growth of the oil and gas sectors.

 The Prime Minister's Media Office stated in a statement, a copy of which was received by NRT Arabic, that "Al-Sudani received today the Minister of Oil, Hayan Abdul-Ghani Al-Sawad, in the presence of the Undersecretary of the Ministry of Oil for Distribution Affairs."

 He added that "Al-Sudani referred, during the meeting, to the government's previous plans for the growth of the oil and gas sectors, and the development of their projects within the government program, through the licensing rounds in which contracts were signed to invest in many oil and gas fields, in addition to investing in associated gas projects, and oil derivatives production projects."

Regarding cooperation with the OPEC Plus group, the meeting emphasized “the importance of partnership with oil-producing countries, with the aim of maintaining the stability and balance of global oil markets, and Iraq’s commitment to what was agreed upon within the group, including voluntary cuts and compensation for the increase in production, according to the updated schedule submitted by the Ministry of Oil to OPEC.”  LINK

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Clare:  The regional government to its employees: Whoever does not have a biometric code will have his salary stopped by the federal finances

10/27/2024

The Ministry of Finance and Economy in the Kurdistan Regional Government called on Sunday, employees and workers in the public sector to rush to register in the biometric system before the twentieth of next November, warning them that the Federal Ministry of Finance will stop the salary of anyone who does not have a biometric code.

The ministry said in a statement today that based on the agreements and understandings concluded between the Ministry of Finance and Economy in the Kurdistan Region and the Ministry of Finance in the federal government regarding the issue of resolving technical problems related to the payroll of Kurdistan Regional Government employees, the following must be done:

First: All employees, retirees, people with special needs, and heirs of martyrs who have not registered themselves in the biometric system must register before the date (11/20/2024).

Second: The decision to register in the biometric system includes all employees and salary recipients who are abroad for various reasons, or on unpaid leave, study, etc.

Third: Every employee or person receiving a salary in the Kurdistan Regional Government who does not have a biometric code until the date (11/20/2024) will have his salary stopped by the Ministry of Finance in the federal government, and he will bear responsibility for that.  LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat   We have been...told by my CBI contact on the committee that we should expect to see the ramped-up Project to Delete the Zeros sometime soon after the U.S. election period is over sometime in November. This period of time through December will begin the process for the swap out with the newer lower denominations. To me this also means about a 1:1 at par rate of the IQD with the US dollar. But remember this is IN-COUNTRY only. Also remember these actions ALWAYS have dependencies. Nothing is a guarantee! I want to make this VERY CLEAR to you today.  [Post 1 of 2....stay tuned]

Mnt Goat  ...the media is constantly broadcasting commercials about how the swap out will work.  Then the news media from Iraq tells us about the “cash center” that recently opened in Karkh. It is used solely for the intake of the three zero dinar notes or dollars. Folks they are already sucking in the three zero notes...So in reality, unofficially, the process of deleting the zeros has already begun. Yes, it is underway according to my CBI contact.  [post 2 of 2]

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Breaking News Iraqi Airspace Shut Down

Edu Matrix:  10-27-2024

 https://www.youtube.com/watch?v=YxCeF9L1fGg

MARKETS A LOOK AHEAD: COUNTDOWN... BE READY FOR ANYTHING! Important Updates.

Greg Mannarino:  10-27-2024

https://www.youtube.com/watch?v=BeeO7WzG6yU

Seeds of Wisdom RV and Economic Updates Sunday Morning 10-27-24

Good Morning Dinar Recaps,

BLOCKCHAIN LIFE 2024 GATHERED THE LEADERS OF THE CRYPTO COMMUNITY FROM 120 COUNTRIES IN DUBAI

Dubai, UAE, October 26th, 2024, Chainwire

The 13th edition of the Blockchain Life Forum, the premier gathering for cryptocurrency leaders worldwide, recently concluded with an astounding attendance of over 12119 participants.

The forum showcased over 200 esteemed speakers, featuring industry pioneers and executives from top companies, including OKX, CoinMarketCap, Bitmain, Bybit, Binance, Animoca Brands, Circle, BingX, ICP, Kraken, TON, Sandbox, Polygon, Litecoin, Sui, BNB Chain, Cardano, DYDX, VeChain, Osmosis, Chiliz, Algorand, Ether Fi, Manta, Mantle, Delysium, and many more.

The exhibition of crypto companies featured 125 amazingly beautiful booths. Major players such as OKX, Bitmain, BingX, KuCoin, Bitget, Listing.Help, and Uminers offered attendees an exclusive glimpse into the latest technologies and innovations shaping the crypto landscape.

As a spectacular finale to the forum, participants enjoyed the Legendary AfterParty at one of the world’s premier clubs, SKY2.0. 

This informal networking event provided a platform for top industry figures to connect, complemented by a dazzling live performance from internationally celebrated artist French Montana, who thrilled over 1,200 attendees with his chart-topping hits.

@ Newshounds News™

Source:  Crypto News Flash

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NETHERLANDS PROPOSES CRYPTO TAX COMPLIANCE TO ALIGN WITH EU STANDARDS

Aligning themselves with the tax reporting rule on digital currency enacted by the European Union (EU), the Netherlands revealed its intention to apply tax monitoring rules on crypto. 

The Dutch government, an EU member, is obliged to accept and apply the new reporting requirement, a structure meant to assist EU member states in controlling digital currencies.

New Reporting Policy
The Dutch Ministry of Finance announced that the government seeks to pass a new policy that will ensure that activities related to cryptocurrencies will be reported and subjected to tax.

According to tax authorities, under the proposed legislation, the government will require crypto service providers to gather and share their users’ data with the Dutch taxation agency starting January 2026.

The Dutch Taxation and Tax Authorities noted, however, that digital currency owners are already required to submit a tax return on their balance and that the measure would not effect them.

Citing that the suggested step will improve cooperation among EU members by exchanging crypto data and transactions, State Secretary for taxes and Tax Authorities Folkert Idsinga clarified that the bill is viewed as an important initiative made by the Dutch government on crypto taxes.

“This will combat tax avoidance and evasion, and European governments will no longer miss out on tax revenues,” Idsinga said.

Under the new rule, digital asset service providers should submit the user data of individuals who are residents of EU member nations. They must submit the data to the Dutch tax administrator, which can be shared by the tax agency with other tax authorities across the regional bloc.

Public Feedback
The Dutch government said that it wants to know the opinion of the public on the proposed tax monitoring law. There will be a consultation period that will run until November 21 wherein the people are encouraged to give their concerns and reactions to the new policy.

The feedback gathered during the consultation will be used to draft the final version of the legislation. Tax authorities aim to submit the proposed measure to the country’s House of Representatives next year.

EU Crypto Tax Reporting
In October 2023, the EU introduced DAC8, a crypto taxation rule that requires all crypto service providers across the EU to provide their respective tax authorities with their users’ data.

The Dutch government said that DAC8 allows data exchange between tax authorities within the EU, limiting the administrative burden for crypto service providers because they only need to communicate with the proper authorities in the country they are registered.

“Without this DAC8 directive, providers could be asked for information by any member state,” Dutch tax authorities explained.

@ Newshounds News™

Source:  Bitcoinist

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🌱SWIFT & MBRIDGE: THE FUTURE OF CROSS-BORDER PAYMENTS?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Sunday AM 10-27-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Sun. 27 Oct. 2024

Compiled Sun. 27 Oct. 2024 12:01 am EST by Judy Byington

Judy Note: Right now the greatest takedown in the financial history of the World was happening. BRICS nations were accelerating de-dollarization faster than anticipated. Brazil, Russia, and China have bypassed the fiat US Dollar in trade agreements. Argentina and Japan were moving to dismantle oppressive tax regimes.

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Possible Timing:

Thurs 24 Oct. 2024: BOOOOM!!! The gold/backed BRICS Currency Note to be used for international trade (replacing the fiat US Dollar) was introduced by BRICS.

On Sun. 27 Oct. into Mon. 28 Oct. 2024 Project Sandman (US Dollar crash) was set to kick off.

Mon. 28 Oct. 1929 was the infamous Black Monday Market Crash and another was expected on Mon. 28 Oct. 2024.

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Global Currency Reset:

 Sat. 25 Oct. 2024 Wolverine: “The GCR is defiantly coming this week.”

Sat. 25 Oct. 2024 MarkZ: “Billionaire Warren Buffet dumps $10,500,000,000 billion in Berkshire’s Bank of America’s stake after slashing JP Morgan Chase, Wells Fargo investments to zero”  Why is this important? If he suddenly dumps the stocks it would probably cause a run on banks. He is historically one of the most solid traders in the world and he is unloading all bank stocks. . Mark Z

Sat. 26 Oct. 2024: Breaking! Military Intel: EBS Training Complete, Countdown to the Great Currency Revaluation Begins! – amg-news.com – American Media Group

Sat. 26 Oct. 2024: NESARA and GESARA Unveil Monumental Changes: Global Implementation Begins! – amg-news.com – American Media Group

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Tier Groups involved in the RV.

Tier 1 the Elders, German Bonds, Select Yellow Dragon Bonds have been paid.

The Pentecostal group are now 100% under NDA.

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Global Financial Crisis:

Sat. 26 Oct. 2024: US Banks are hiding a dark secret. Bail Ins are coming. Time for the banks to rob us now. Luckily we have the QFS: https://m.youtube.com/watch?v=5QnojHmE4aw

The CEO of America’s largest bank, Jamie Dimon, says the global order is at risk. In other words, a transformation of the international monetary system. https://x.com/GoldTelegraph_/status/1849962758684790803

Bitcoin drops after the U.S. government announces an investigation into USDT crypto firm Tether.

Read full post here:  https://dinarchronicles.com/2024/10/27/restored-republic-via-a-gcr-update-as-of-october-27-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Wolverine   [via Judy Byington]  The private contractors have seen their letters of confirmation that they will get paid this coming week. That is a million percent confirmed.  The biggest news is that the biggest Whale in the RV got paid and went home to start the process to help humanity...he is a good friend of mine, and when that news came through, I started crying... I also, will be jumping in with them to help with their humanitarian projects...I will be flying out soon, but cannot tell you where. When I get the green light, you will not hear from me again, but the opera [RV?] will come before that happens.

Pimpy   [Reference Guru Nader post ]   It [The dinar on Forex] went from 1320 to 745 for every dollar so that's 54% increase in value.  Woo!  Man that's really good.  It's not where everybody  wants to be but still a nice jump in value.  It's looking good.  I really think it's looking good.  I just try to keep people grounded...There is weird activity.  Nobody really knows what it means but that is one hell of a jump, a 54% increase in value...I don't know what's going on...It is exciting because this is right on the heels of the information...that they're lifting restrictions [on foreign exchange in Iraq] and then all of a sudden this happens.  This is like one day apart...All of a sudden next day there's a spike.  Could be something, could be nothing...Everybody knows it's close so it's hard not to get excited.

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Iraq Good News Growth Pattern; COP Currency Investment How to:

Edu Matrix:  10-26-2024

https://www.youtube.com/watch?v=qls067q74yg

Fake Agro-Cheque | How to Spot The Fake 100 Billion Dollars Special Agro Cheque Banknote

BankNote World:  10-26-2024

Fraudsters will attack any banknote or product where they think they can make money and get away with their crime. With the high collector value of the Zimbabwe 100 Billion Special Agro-Cheque banknotes, counterfeiters have tried to produce and pass fake Zimbabwe 100 Billion Special Agro-Cheque banknotes.

 At BanknoteWorld not only do we ensure the authenticity of the banknotes we sell, we also scour the market to look for counterfeits so we can analyze them and provide guidance to collectors and law enforcement how to spot these fakes.

https://www.youtube.com/watch?v=MpnvXjhJ6ZE

“Tidbits From TNT” Sunday Morning 10-27-2024

TNT:

Tishwash:  Rafidain Bank announces the implementation of the comprehensive banking system in 46 branches in Baghdad and the governorates

 Rafidain Bank announced today, Sunday, the implementation of the comprehensive banking system in 46 branches in Baghdad and the governorates  link

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Tishwash:  The regional government to its employees: Whoever does not have a biometric code will have his salary stopped by the federal finances

The Ministry of Finance and Economy in the Kurdistan Regional Government called on Sunday on employees and workers in the public sector to rush to register in the biometric system before the twentieth of next November, warning them that the Federal Ministry of Finance will stop the salary of anyone who does not have a biometric code.

The ministry said in a statement today that based on the agreements and understandings concluded between the Ministry of Finance and Economy in the Kurdistan Region and the Ministry of Finance in the federal government regarding the issue of resolving technical problems related to the payroll of Kurdistan Regional Government employees, the following must be done:

First: All employees, retirees, people with special needs, and heirs of martyrs who have not registered themselves in the biometric system must register before the date (11/20/2024).

Second: The decision to register in the biometric system includes all employees and salary recipients who are abroad for various reasons, or on unpaid leave, study, etc.

Third: Every employee or person receiving a salary in the Kurdistan Regional Government who does not have a biometric code until the date (11/20/2024) will have his salary stopped by the Ministry of Finance in the federal government, and he will bear responsibility for that.  link

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Tishwash:  "Hybrid Monetary Policy".. Al-Sudani's Advisor Reveals the Central Bank's New Step

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, explained today, Saturday, precise details about the importance and reasons for the Central Bank of Iraq’s decision to reduce interest.

Saleh told {Euphrates News} that: "It is clear that the monetary policy of the Central Bank of Iraq has become a policy that meets the requirements of growth in real economic activity, through activating its operational objectives aimed at reducing the cost of credit and financing within the joints of the economic system in general and the banking system in particular.

" He explained, "The Central Bank began, through its decision issued in accordance with its circular on October 24, to reduce the monetary policy interest rate (which is the rate at which the Central Bank of Iraq deals with the banking system) by about 200 percentage points

By lowering the interest at which the Central Bank deals with banks from 7.5% to 5.5%, which means that the Central Bank of Iraq has become following an expansionary policy in targeting the money supply in a manner that is consistent with activating the real sector in the national economy and confronting unemployment indicators in the overall economy."

According to the statement of the Prime Minister's economic advisor, "Despite the above, the bank in its new policy did not neglect the importance of continuing to control local liquidity levels and carrying out high sterilization operations, by offering debt instruments called Islamic certificates of deposit with a return that increases with the length of the amortization period of those securities purchased by the banking system, which are considered sovereign debts that can be mortgaged or discounted in the secondary market and are excellent debts."

He continued, "The monetary policy of the Central Bank has given a signal to the financial and banking system that its easy or flexible policy adopted by the bank in moving the liquidity of the economy is under continuous control in order to play the role of the monetary authority in combating inflationary activities and imposing economic stability as its first central goal." 

Saleh concluded by saying, "Between expanding the movement of economic liquidity as an expansionary policy and imposing control over liquidity levels by offering debt instruments in return at the same time in parallel, we can call the current monetary policy of the Central Bank of Iraq a {hybrid flexible monetary policy}."

The bank decided to reduce the interest rate from 7.5% to 5.5%, in addition to reactivating the securities (Islamic certificate of deposit and money transfers) according to an annual plan and with two terms: with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days.   link

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Tishwash:  Despite the Israeli attack, the Iranian toman recovers against the US dollar

Today, Saturday (October 26, 2024), the Iranian toman recorded a remarkable recovery against the US dollar on the main Tehran Stock Exchange.

Baghdad Today correspondent said that the toman price today in Tehran's main stock exchange was recorded at 6 million and 500 thousand tomans for every 100 US dollars.

He added that this price is considered a significant change towards recovery after it recorded 6 million and 800 thousand tomans for every 100 US dollars yesterday.

Israel launched a series of airstrikes on Iran early Saturday morning, and explosions were heard in the Iranian capital, Tehran, although there was no information about any damage or injuries.

Four hours after the start of the operation, which Israel called "Days of Response," the Israeli army announced that it had completed the attack on military targets in Iran, that all of its aircraft that carried out the attack on Iran had returned safely to their bases, and that the operation had achieved all of its goals.

Israeli military spokesman Daniel Hagari said the attack was carried out under the direction of the political echelon in response to the Iranian regime's attacks against Israel and its citizens.

A senior US official said that the Israeli response to Iran has ended, and asked Tehran not to respond or escalate, stressing that if Iran decided to respond, "we will be fully prepared to defend Israel again and there will be dire consequences."

He added that this should be the end of the exchange of direct strikes between Israel and Iran.

The Israeli attack began shortly before 2 a.m. on Tehran, and shortly thereafter Israeli military spokesman Daniel Hagari announced the start of a precise and targeted attack on Iran.

Later, Israeli media reported a second wave of Israeli attacks against Iran, targeting sites, some of which were in Shiraz. Then, the American website Axios quoted Israeli and American officials as saying that Israel targeted Iran with three waves of strikes, and that the first waves of those Israeli strikes targeted Iran’s air defense system.

After about 4 hours, the Israeli Broadcasting Authority confirmed the end of the Israeli attack on Iran, in which hundreds of fighter jets participated. The New York Times also quoted Israeli officials as saying that the attack on Iran ended after striking about 20 sites.  link

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Mot: A piece of the action

Mot:  Soooooo -Watts Ur Critters Name!! – hmmmmm 

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 10-26-24

Good Afternoon Dinar Recaps,

FED RATE CUT TO HAPPEN 2 DAYS AFTER US ELECTION, POSSIBLE MARKET IMPACT?

▪️The US Fed rate cut is imminent in November with 0.25% cut in view

▪️FOMC policy meeting will hold on Nov 7, two days after coming US election

▪️Bitcoin might benefit from this potential market rattling ahead

Beyond Bitcoin trend, one of the most important conversations on Wall Street now is the potential Fed rate cut in November. With the US economic data coming in below expectations, there is a higher level of certainty of a rate cut next month. The timing, however, has created a new conversation on what this might mean for the broader market.

US Fed Rate Cut: What Is With the Timing?
In September, the Federal Open Market Committee (FOMC) slashed interest rate by 50 basis points. This pivot comes after about 4 years of aggressive monetary policies. At the time, Federal Reserve officials including Chairman Jerome Powell revealed that more cuts are likely, depending on economic outlook.

Recent economic data shows a need for more cuts. Although the latest US PPI inflation data comes in hotter than expected, jobless claims remain a concern to tackle. With the outlook, many projected a 25 basis point Fed rate cut for November and possibly December.

A recent Beige Book report from the apex bank confirmed the need for further cuts, leaving the question of the timeline. Per a report from MarketWatch, the Fed officials are silently preparing for the November policy meeting on the 7th. This is 2 days after the US Presidential election between Donald Trump and Kamala Harris.

It remains unclear what the market impact will be as the elections might not have produced a winner by then. This is bound to leave the market investors highly cautious based on the broader uncertainty on what to expect. However, more clarity on what to expect with the release of PCE Inflation and the October job report next week.

What is in it for Bitcoin?
US Fed rate cut events are historically bullish for Bitcoin (BTC) and the broader crypto market. Branded as a hedge against inflation, Bitcoin might gain more attraction from investors over time.

This thesis stems from the likelihood of the US Dollar losing its purchasing power with excess capital flow amid the Fed rate cut push. This is already playing out as many firms are already exploring keeping funds in digital currencies as a hedge.

In a major twist, Microsoft shareholders will vote in the coming weeks about investing in Bitcoin. Following this revelation, top proponents like Michael Saylor has offered to help Microsoft make trillions through BTC if the leadership is open to talk.

@ Newshounds News™

Source:  CoinGape

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CARDANO FOUNDER REVEALS EPIC BITCOIN PLAN: DETAILS

Cardano founder Charles Hoskinson has teased an ambitious plan to enhance Bitcoin’s ecosystem by relaunching the Bitcoin Education Project in 2025 and introducing advanced resources for Bitcoin developers.

Hoskinson started The Bitcoin Education Project in 2013, providing free, peer-reviewed content on Bitcoin and the digital asset environment.  Now, as he noted in a tweet, with Bitcoin “back in the family,” he intends to relaunch the Bitcoin Education Project in 2025 as well as develop a new edition of his course in the educational program.

The new edition, according to Hoskinson, will not only update previous content but will also include resources specifically for developers looking to build applications on the Bitcoin network.

In a push to expand the programming toolkit available for Bitcoin developers, Aiken education — a modern programming language and toolkit for developing smart contracts on the Cardano blockchain — will be prepared for Bitcoin developers, including hosting on Maestro and using the hyperledger GitHub.

@ Newshounds News™

Source:  U Today

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🌱 THE CONSTITUTION CALL WITH SILVER 57 JIM. LOWTIDE, R JAX AND MASON GREAT INFO - DID YOU KNOW?  |  Youtube

 Replay of the Constitution Live Call from last night October 25, 2024 with guest speaker Mason.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Saturday PM 10-26-2024

TNT:

Tishwash:  Al-Sudani directs to conclude contracts in euros

Prime Minister Mohammed Shia al-Sudani directed ministries and governorates to accept offers and bids and conclude contracts in euros, equal to the dollar. 

The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, said in a letter issued to state institutions that Al-Sudani directed the acceptance of offers and bids and the conclusion of contracts in the European currency "Euro", equal to the US dollar, in accordance with the decisions of the Council of Ministers and the instructions issued by the Central Bank of Iraq regarding the US dollar.  link

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Gold Telegraph: Transformation of the International Monetary System

Friday, 25 October 2024,

Somebody should ask Jerome Powell or Janet Yellen about the BRICS plan to create a new international exchange of precious metals.

Hint: They won’t.

BREAKING NEWS: JAPAN’S FINANCE MINISTER KATSUNOBU KATO DISCUSSED DEVELOPMENTS IN THE FOREIGN EXCHANGE MARKET WITH UNITED STATES TREASURY SECRETARY JANET YELLEN

You can’t make this stuff up.

“Recent moves in foreign exchange rates were discussed at a bilateral meeting today between Finance Minister Kato and Treasury Secretary Yellen…”

Source: https://www.bloomberg.com/news/articles/2024-10-25/japan-s-kato-discusses-fx-with-yellen-after-ramping-up-warnings

Australia’s central bank recorded its fourth straight year of accounting losses in 2024. $2.78 billion loss. You are reading this right.

BREAKING NEWS: THE FEDERAL GOVERNMENT IS INVESTIGATING CRYPTOCURRENCY COMPANY TETHER FOR POSSIBLE VIOLATIONS OF SANCTIONS AND ANTI-MONEY-LAUNDERING RULES

Nobody saw this coming.

“Authorities looking at possible violations of anti-money-laundering and sanctions rules…”

Source: https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether-a13804e5

Again, I have said this for years… Watch for gold-backed stablecoins.

The CEO of America’s largest bank, Jamie Dimon, says the global order is at risk. In other words, A transformation of the international monetary system.

https://dinarchronicles.com/2024/10/25/gold-telegraph-transformation-of-the-international-monetary-system/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Nader From The Mid East   Monday night (Tuesday Morning) I was in bed and I received a phone call around 2 o'clock in the morning over here in the States.  They go like, hey Nader you go on Forex and watch what's happening in Forex...I go to Forex and I see this spike.  Boom.  Big spike.  This first time since 20 years I see it...I look at it and it's missing one zero.  Instead of three zeros is only two zeros...I'm there looking at it.  I'm not believing myself what I'm seeing and I see it going down too, back to .00076 ...For me they bring to do it.  They're testing it.  They testing it late night or early morning over there just to see how it's going to work out...If you go to google, type in Iraqi dinar exchange rate.  Click 5d (last five days view).  If you go there you see it loss it's zero and it's .0014 instead of .0076 ... [Note: See the spike on the chart from a few days ago by clicking here to view on Google ]

MarkZ   [via PDK]  Article:  “MP (Member of Parliament)  It is not possible to pass the 2025 budget without sending the final accounts from the last two years”  This is a big one.   Along with the HCl…it looks like we will soon be getting the revaluation we are looking for.

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Debt Doomsday Countdown: US Heads into One of Most Challenging Periods in History – Peter Grandich

Kitco News:  10-26-2024

Jeremy Szafron, Anchor at Kitco News, interviews Peter Grandich, Founder of PeterGrandich.com, to discuss his stark forecast for the U.S. economy amid rising global power shifts, de-dollarization efforts, and BRICS’ recent developments.

Grandich says America is entering its ‘worst-ever economic, social, and political era,’ raising concerns about debt, retirement, and potential currency shifts as BRICS grows its influence.

This segment dives into Grandich’s ‘10 Commandments for Investors,’ emphasizing capital preservation over appreciation. He breaks down the latest warning from the International Monetary Fund (IMF). He also shares his outlook on gold, U.S. stocks, and the U.S. dollar.

00:00 Introduction: BRICS, IMF, World Bank Updates

02:28 BRICS Analysis

04:40 Gold and the International Financial System

05:34 Future of BRICS and Global Trade

08:41 Global Power Dynamics

11:41 IMF and World Bank Meetings

13:57 U.S. Debt Crisis and Federal Reserve

17:16 Economic Predictions

 19:05 Financial Complacency

19:57 Macro Outlook: Recession and Debt Crisis

21:00 Retirement and Aging Crisis

22:20 Stock Market Predictions

26:08 Precious Metals: Gold and Silver Outlook

30:14 Junior Resource Stocks

32:49 Investment Strategies

https://www.youtube.com/watch?v=zWh2-JZRy2U

“Tidbits From TNT” Saturday 10-26-2024

TNT:

Tishwash:  What is the total spending and price of a barrel of oil in the 2025 budget?

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, specified the expected total spending, the hypothetical deficit, and the price of a barrel in the 2025 budget.

Saleh said, "Next year's budget 2025 will not deviate from the constants approved in the Federal General Budget Law (the three-year budget) submitted by the government and approved by the House of Representatives for the years 2023-2024-2025, especially in the principles and objectives consistent with the government program."

He added, "Despite this, the 2025 budget must be hedged with a hypothetical deficit of 64 trillion dinars, which is a (precautionary) deficit that has been established by law; to avoid fluctuations in the general budget revenues for the coming year, especially oil revenues that are subject to fluctuations in the oil asset cycle and the conditions of energy markets in the world, as long as the total spending ceiling will touch perhaps 200 trillion dinars, depending on the financial and economic circumstances of the country."

He explained that "the price of a barrel of oil in the three-year budget, to which the 2025 budget is subject, was set at $70 and an export capacity of 3.4 million barrels per day for the purposes of determining oil revenues in the general budget."  link

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Tishwash:  Is gold in Iraq affected by global prices? Expert explains

 Growing geopolitical tensions are pushing investors towards safe assets such as gold, driven by a desire to protect themselves from risks and instability in global markets. Are gold prices in Iraq affected by global prices?

In this regard, Mustafa Hantoush, who is concerned with financial and banking affairs, confirmed that Iraq is not a gold-producing country, and
its people buy more than they sell due to hoarding and traditions. Therefore, its markets depend on global gold prices in buying and selling.

Hantoush told Iraq Observer, “One of the most important reasons for the rise in global gold prices is the increase in the dealings of countries such as (Russia - China - Belarus) in gold as an alternative to smuggled goods and oil.”

He added, "There is also a trend by the central banks of the world's countries to strengthen their reserves with gold instead of currencies and bonds."

He added, "In addition to the increase in inflation in the equivalent dollar amounts in the US economy, which increases the risks of the dollar and makes investment and savings tend towards gold."

He pointed out that “the scarcity of global gold sources in the face of a large population expansion creates a demand for gold as a result of societal uses such as marriage and others,” explaining that “if there is a rise in gold globally, prices inside Iraq will witness a rise, and if it decreases globally, there will also be a decrease inside Iraq.”

About a year ago, some gold traders resorted to buying dollars and making commercial transfers by purchasing quantities of gold, which enabled them to buy dollars at the official price, and contributed to additional profits through transfers via gold trading.  link

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Tishwash:  Oil: Gas investment project implementation with Total is progressing within the specified timeframe

The Ministry of Oil confirmed, today, Friday, that the gas investment project work with the French company Total is proceeding within the specified timeframes.

A statement by the ministry - received by the Iraqi News Agency (INA) - stated that "Undersecretary of the Ministry for Extraction Affairs, Basem Mohammed Khader, chaired the seventh meeting of the Joint Management Committee for the project, in the presence of Undersecretary of the Ministry for Gas Affairs, Izzat Saber, Director General of Basra Oil Company, Basem Abdul Karim, and Director General of South Gas Company, Hamza Abdul Baqi."
The Undersecretary said during the meeting - according to the statement - that "the progress of the implementation of the gas investment project implemented by the French company Total in Basra is proceeding within the specified timeframes, as confirmed in the government program and the directives of Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani."

The Undersecretary confirmed - after chairing the meeting - that "the project is one of the important and strategic projects on which great hopes are pinned, as it includes important projects, including the development of the Artawi field and gas investment in five oil fields in two phases with a capacity of 600 mcm, each phase 300 mcm, in addition to the seawater project to inject water into the fields to compensate for the depleted pressures, as well as the solar electric energy project with a capacity of 1000 megawatts in four phases, each phase 250 megawatts."

He added, "The meeting discussed several topics, the most important of which is how to start the accelerated gas investment project, which is an additional paragraph for the project that was not included in the obligations, but was added after the directives of the leadership of the oil sector and the government on the necessity of closing the gas flaring file and optimal investment of associated gas, and the project was referred with a capacity of 50 cubic meters."
The statement continued, "During the meeting, the mechanisms for starting drilling operations were discussed, as tenders were referred in this regard, and they will begin after December of this year," noting that "the seismic surveys project was assigned to a Chinese company in cooperation with the Oil Exploration Company."

He pointed out that "regarding the seawater project, there are negotiations with one of the companies in agreement with Total, and we hope to reach understandings in this regard."

The statement explained that "the meeting stressed the importance of the participation of Iraqi workers from graduates and other workers in the project, and this will be through contracting with them directly from Total, without the need for other parties."  link

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Mot:  DANG!!! --- Really Windy Here Today  falling witch

Mot:  . Self-propelled Dancing Witch's Broom -  https://www.youtube.com/watch?v=mXRDN1k_78E

Seeds of Wisdom RV and Economic Updates Saturday Morning 10-26-24

Good Morning Dinar Recaps,

CROSS BORDER PAYMENTS: CITI SPOTLIGHTS DLT. FSB REPORTS ON G20 PROGRESS

During the past week Citi and the Financial Stability Board (FSB) have published separate reports on cross border payments. 

Both papers explore G20 targets for improving cross border payments. Unfortunately, 2024 speed figures were worse than 2023 for wholesale, retail and remittance payments, largely reflecting more accurate data.

Citi’s report highlights that fintechs expect to gain 10% in market share from banks in the next two to five years. Its survey shows that DLT is one tool to address the pain points, but more in the medium term.

G20 cross border payment speed bumps
The G20’s targets for 2027 are multifaceted, including improving speed, cost, transparency and access. After improvements last year, the speed statistics have gone backwards in 2024. For wholesale payments, this has more to do with some calculation changes by Swift. The others seem to boil down to more accurate data in 2024.

For example, 99.6% of North American B2P payments settled in one day in 2023, but the figure collapsed to 46.3% in 2024. Similarly, in South Asia, the one day figure went from close to 100% in 2023 to just over 20% in 2024. The explanation for the American figure was that far more payment providers shared speed data compared to 2023. However, the data reported comes from less than a quarter of payment providers. That could mean as more providers share data, the statistics might get worse.

Given stablecoins are becoming more user friendly, we’d observe that retail figures like those in the table could drive greater adoption of stablecoins, unless banks and payment service providers move faster.

The role of blockchain and tokenization
Numerous blockchain initiatives are in progress to address some of the challenges highlighted by the FSB report. Examples include the BIS Project Agorá with seven central banks and 40 institutions which aims to re-engineer correspondent banking using tokenization. 

In Asia, mBridge involves five central banks and is already at the minimum viable product stage. It links to banks, but aims to remove the need for correspondent banks.

In the private sector there’s Partior, a joint venture involving DBS, JP Morgan, Standard Chartered and Temasek with similar goals to Agorá. Plus there’s the Regulated Liability Network, which was originally conceived by Citi. Several more of these solutions are explored in our report on tokenized deposits and bank stablecoins.

Citi aims to make a direct contribution on the wholesale front with the launch of its Citi Token Services. However, the solution is not particularly promoted in the report, which briefly covers stablecoins, tokenized deposits and CBDCs.

The authors state, “We believe, efficiency features such as always on operability, atomic settlement and programmability could be embedded into tokenized forms of money to address pain-points of cross-border payments.”

However, it acknowledges that because today’s infrastructure works at scale, building new rails is not a priority and is also disruptive. It requires ‘deep commitment’ from institutions to lean into something like tokenization. However, future requirements will require substantial changes.

DLT can help liquidity demands
One of the requirements explored in the report is the liquidity demands of 24/7 payments. Before the advent of real time payments, liquidity management could be more passive. Now liquidity and credit availability need more attention to prevent failed payments.

“Blockchain or tokenization is also a key solution for liquidity management in enabling the pooling of a client’s or bank’s liquidity buffers, leading to optimized allocation of capital, reduced counterparty risk, and faster settlement times.” In fact, that’s precisely the goal of Citi Token Services for Cash which enables institutions to move money between Citi branches 24/7.

While the wholesale segment dominates cross border payments, the Citi report also highlights the growth potential in the non-wholesale segment, which could grow by almost 50% between now and 2030. However, if banks don’t move fast, a large part of that could go to fintechs, perhaps even stablecoins.

@ Newshounds News™

Source:  Ledger Insights

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CARDANO TO LAUNCH FIRST PERMISSIONLESS LAYER 2, OUTPACING ETHEREUM

Cardano is set to unveil its first permissionless Layer 2 (L2) solution, positioning itself ahead of other blockchains like Ethereum. The announcement was made during the Cardano Summit 2024 in Argentina, where Philip DiSarro, CEO and founder of Anastasia Labs, detailed the forthcoming launch of Midgard, an optimistic rollup designed to enhance ADA’s scalability and functionality.

DiSarro highlighted the unique advancements of Midgard via X, stating, “Not a single blockchain has managed to achieve true permissionless general purpose rollups. At the end of the day, the top ‘L2s’ in the blockchain space right now are all custodial multisigs.” 

He emphasized that existing L2 solutions predominantly rely on custodial multisignature schemes, which introduce centralized elements into the otherwise decentralized blockchain environment.

Cardano Is Ahead Of Ethereum, Solana And Sui
Midgard distinguishes itself by inheriting the full security of Cardano’s Layer 1 (L1) through several innovative features. In contrast to Ethereum’s L2 like Arbitrum, Optimism and Base, Midgard operates without a centralized sequencer, challenge response proofs, multisignatures, or custodians.

 Instead, it utilizes a permissionless operator set, trustless fraud proofs, and trustless deposits and withdrawals, ensuring that the inbox and outbox mechanisms remain fully censorship-resistant.

Via X, DiSarro highlighted Cardano’s unique local state Extended Unspent Transaction Output (EUTxO) architecture. “This is all made possible by Cardano’s unique local state EUTxO architecture. UTxO contention, small block size, local state, transaction determinism— all of these ‘problems’ may have led you to question why these design choices were made. Midgard aims to show you that these are actually not problems at all.”

The founder Anastasia Labs also further argued: “In fact, quite the opposite; they are extremely powerful properties that, together, provide unique value that simply does not exist in any other ecosystem. These are, in actuality, the core pillars that make Midgard even possible in the first place,” DiSarro explained.

Midgard’s architecture purportedly leverages the inherent strengths of ADA’s design, making it unfeasible to replicate on other blockchain platforms such as Ethereum, Solana, or Sui. DiSarro asserted, “You cannot build Midgard on Ethereum, Solana or Sui. It is a protocol that is only possible on Cardano.”

The impending launch of Midgard is anticipated within the next few months, with DiSarro confidently predicting its impact: “True rollups, L2 protocols that inherit the full security of the L1, are coming in the next few months. Our optimistic rollup, Midgard, is a first of its kind permissionless rollup.”
The announcement garnered attention from within the ADA community and beyond. Danogo, operating the first decentralized exchange (DEX) trading Optim Bond tokens on Cardano, referenced DiSarro’s presentation on the Cardano Summit: 

“Only on Cardano you can have a new generation of Rollup that is permissionless! There is no multi sig that controls the Layer-2 like on Ethereum! Even Vitalik recognizes that now. […] That inherits full security from L1. And Cardano will have the first L2 that is fully permissionless in a few months!!!!”

Furthermore, Charles Hoskinson, the founder of Cardano, responded to the discourse with a meme on X stating, “This guy gets it,” signaling endorsement of DiSarro’s vision and the potential of Midgard.

@ Newshounds News™

Source:  Bitcoinist

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🌱 THE CONSTITUTION CALL WITH SILVER 57 JIM. LOWTIDE, R JAX AND MASON GREAT INFO - DID YOU KNOW?  |  Youtube

Replay of the Constitution Live Call from last night October 25, 2024 with guest speaker Mason.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

Seeds of Wisdom RV and Economic Updates Friday Afternoon 10-25-24

Good Afternoon Dinar Recaps,

BRICS+ EXPANDS PLANS FROM DLT PAYMENTS TO DLT CLEARING AND DEPOSITARY
Following this week’s BRICS+ meetings in Kazan, Russia, the group published a 136-page statement, with a small part of it touching on payments (see below). Plans for a new cross border payment system, BRICS Bridge, have been discussed for some time. Additionally, Russia is now pushing for a BRICS-based securities system to provide clearing and a depositary, reportedly also DLT-based.

In January BRICS expanded its membership from the original five members — Brazil, Russia, India, China, and South Africa — with the addition of Iran, the UAE, Ethiopia and Egypt. While Saudi Arabia was expected to be one of the new joiners, it has not officially signed up. Instead, it is a BRICS ‘partner’.

BRICS Pay
Before the main meetings, BRICS Pay cards loaded with 500 Rubles ($5.20) were distributed to visitors at the BRICS Business Forum in Moscow. Egyptian and South African news outlets describe the cards as a symbolic promotional gesture rather than suggesting that a live system exists.

However, this is a reminder of another initiative – to interconnect domestic payment systems – which has not gained traction, according to a recent Forbes Russia report.

Discussions about a BRICS common basket currency have also faded, mainly because that’s viewed as extremely difficult. However, the BRICS+ statement referenced exploring ‘payment instruments and platforms’, which could include either a basket or more likely local currency CBDCs.

BRICS Bridge
In recent times the main focus has been on the DLT-based BRICS Bridge as a way to enable local currency transactions, potentially with CBDCs.

The use of the word Bridge is a nod to mBridge the cross border payment system co-developed by some of the BRICS members, that has reached the minimum viable product stage.

Notably, the group is in the process of open sourcing the mBridge code, which might make it easier for BRICS members to adopt. Unlike BRICS Pay, mBridge is more of a backend payment infrastructure that links to existing banking systems.

However, in the short term the aim is to use local currency settlement as part of the existing correspondent banking network. That’s emphasized in the official joint BRICS+ statement (see below).

Meanwhile, IMF managing director Kristalina Georgieva wants to know more about the plans for the payment system.

“The idea of having a payments system of a group of countries is not new,” she said, according to Reuters.

“What we need to see is more details,” she added. “What is it in this idea? How that may translate into reality? And then we will be able to assess it.”

BRICS Clear
The statement also included a paragraph on the study of a “BRICS Securities Depository and Settlement Infrastructure” which would be an alternative to Western infrastructures like the DTCC, Euroclear and Clearstream. 

This was previously floated as an idea in a Russian paper circulated before the meetings. Bloomberg reported that some view this as an initiative from Russia and Iran, while other BRICS members might have less appetite for it.

BRICS statement
Below are the relevant excerpts from the joint BRICS statement:

We reaffirm our commitment to strengthening BRICS financial cooperation. We recognize that a fast, low-cost, efficient, transparent, secure and inclusive cross-border payment system based on the principle of minimization of trade barriers and non-discriminatory access has broad benefits.

 We welcome the use of local currencies by BRICS countries and their trading partners in financial transactions.

We encourage the strengthening of the BRICS correspondent banking network and the promotion of local currency settlement under the voluntary and non-binding BRICS Cross-Border Payments Initiative, and look forward to further discussions on this under the BRICS Payments Working Group and other mechanisms.

We authorize the BRICS Finance Ministers and Central Bank Governors to continue their study on local currency cooperation, payment instruments and platforms as appropriate and to submit a report during the next BRICS Presidency.

We recognize the importance of exploring the feasibility of interconnecting the financial market infrastructure of BRICS countries, and agree to discuss and study the feasibility of establishing a “BRICS Securities Depository and Settlement Infrastructure” on a voluntary basis to supplement the existing financial market infrastructure.

In addition, we will explore the establishment of BRICS (re)insurance companies on a voluntary basis to enhance the independent reinsurance capacity of BRICS countries.

@ Newshounds News™

Source:  Ledger Insights

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REGULATORY UNCERTAINTY IS A BARRIER TO THE INSTITUTIONAL ADOPTION OF TOKENIZED MONEY MARKET FUNDS: ANALYST

▪️According to an analyst, the potential for adverse regulatory intervention remains a major obstacle to the broader adoption of tokenized money market funds among institutional investors.

▪️The analyst added that while there is growing institutional interest in using tokenized assets like BlackRock’s BUIDL as collateral in crypto derivatives trading, adoption hinges on regulatory clarity and developing foundational infrastructure.

The risk of adverse regulatory intervention remains a major obstacle to the broader adoption of tokenized money market funds among institutional players, an analyst said.

"Tokenized money market funds are under constant threat of adverse regulatory action, curbing investors’ appetite," Rho Labs founder Alex Ryvkin told The Block. 

"And, as someone with first-hand experience implementing blockchain-compatible infrastructure for the incumbents, I can confirm that widespread tokenized RWA-readiness is, although inevitable, still a couple of years away."

Ryvkin explained that while awareness and interest in tokenized real-world assets have grown, progress on regulatory clarity and infrastructure development will be necessary before these products achieve mass adoption.

He noted that the current adoption stage remains in the "experimentation phase," with the usage of tokenized money market products still lagging far behind their traditional finance counterparts.

"While we’ve seen some impressive shifts in RWA adoption, we’re still in that early experimentation phase. The outstanding interest in RWA products is dwarfed by similar trades in the tradfi space, and the adoption is mostly limited to institutional or qualified investor participation," Ryvkin added.

Tokenized MMFs used as collateral on crypto-derivative exchanges
Ryvkin highlighted some recent institutional moves in the space — including interest in using tokenized assets such as BlackRosk's BUIDL token as collateral on crypto derivatives exchanges, such as Deribit. "That’s good news and not just for BlackRock, as the development of crypto-liquidity backed by traditional securities as collateral, once the rails are widely established, would not stop," he said.

However, Ryvkin noted that although developments are promising, true adoption requires a foundational infrastructure that is still being built. Ryvkin then pointed to critical steps needed for products like BlackRock’s tokenized BUIDL fund to move beyond proof of concept and integrate broadly into capital markets.

@ Newshounds News™

Source:  The Block

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PENNSYLVANIA HOUSE PASSES CRYPTO PROTECTION BILL IN BIPARTISAN VOTE

The Pennsylvania House of Representatives passed a bill protecting residents' rights to use and store cryptocurrency on October 22, 2024. The Digital Assets Authorization Act secured an overwhelming majority of 176-26 votes, backed by all 100 Republican members and 76 Democrats, according to the official Pennsylvania General Assembly voting record.

The strong bipartisan support for the bill reflects a broader trend in U.S. politics, where cryptocurrency regulation represents a rare unifying issue. Among crypto owners, 35% identify as Democrats, 33% as Republicans and 32% as independents or other according to a Grayscale report.

However, the House's voting pattern shows that some resistance remains among Democrats, with 26 voting against the bill while Republicans showed unanimous support.

Voters are paying close attention to crypto policy, with 51% of crypto-positive voters monitoring candidates' positions, while 48% of all voters express distrust towards politicians who interfere with crypto development, rising to 63% among crypto-positive voters, according to a recent DCG and Harris Poll survey of swing states, including Pennsylvania. 

"This data shows crypto is top of mind for voters in swing Senate states and that a pro-crypto position is a net positive for policymakers and candidates," said Julie Stitzel, Senior Vice President of Policy at DCG in a press release statement.

Bill Specifics And Enforcement Plan
If enacted, this crypto legislation would establish clear protections for digital asset usage and custody rights across Pennsylvania, while maintaining existing regulatory frameworks.

@ Newshounds News™

Source:  Forbes  

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TETHER PROPOSES BOLD PLAN: BORON-BACKED TOKENS FOR TURKEY’S MARKET—HERE’S WHY

Tether Holdings Ltd., the issuer behind the world’s largest stablecoin USDT, has proposed an ambitious plan to Turkey’s government. The plan aims to “modernize” the country’s boron market using blockchain technology.

The proposal involves creating digital tokens backed by borate minerals, a key resource where Turkey controls over 70% of the global supply.

Further Details On The Proposal
As Bloomberg reported earlier today, citing individuals familiar with the matter, Tether pitched the idea to Turkish officials to tokenize boron, used in various industries such as ceramics, fertilizers, and glass production.

In addition to the tokenization proposal, the company has also raised the possibility of establishing a digital asset exchange in Istanbul, Turkey’s financial hub.

Tokenization is a growing trend within the digital asset space, where real-world commodities or assets are represented by digital tokens on a blockchain.

Bloomberg revealed that proponents argue that tokenization can improve market efficiency, liquidity, and transparency.

With Turkey projected to generate $1.3 billion in boron sales by 2024, the government may view Tether’s proposal as an opportunity to tap into innovative technologies and boost economic growth.

Turkey’s Growing Crypto Market And Tether’s Interest in Boron
Although the specific benefits of Tether’s proposal remain unclear, the company’s interest in Turkey is not entirely unexpected.

So far, Turkey has emerged as an attractive market for digital assets, particularly due to “high inflation and the declining value of the Turkish lira,” which has led to increased crypto adoption. Boron, a naturally abundant resource in Turkey, presents an intriguing choice for Tether’s tokenization efforts.

Turkey’s state-owned mining company Eti Maden Isletmeleri Genel Mudurlugu manages the country’s boron reserves, and the government’s control over this valuable resource could make it an ideal candidate for blockchain-based solutions.

While the Turkish government has not yet committed to the proposal, discussions are ongoing, with key meetings between Tether officials and senior Turkish figures, including Vice President Cevdet Yilmaz and Energy Minister Alparslan Bayraktar.

A Turkish government official has noted that the idea is still in its early stages and may not be implemented immediately. Additionally, a Turkey’s Energy Ministry representative confirmed that the discussions with Tether are ongoing, though no concrete plans have been confirmed yet.

Meanwhile, in a statement, Tether’s CEO Paolo Ardoino reaffirmed the company’s commitment to supporting innovation in Turkey’s digital-asset ecosystem. Ardoino noted:

Tether is] deeply committed to fostering innovation in Turkey’s digital-asset landscape and keen to continue exploring new opportunities for growth.

@ Newshounds News™

Source:  Bitcoinist

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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More News, Rumors and Opinions Friday Afternoon 10-25-2024

KTFA:

Clare:  Planning: Census operations will continue for two weeks starting from November 20

10/25/2024

The Ministry of Planning confirmed today, Friday, that the date for conducting the census on November 20 is fixed and unchanged, while it indicated that its operations will continue for two weeks until December 3, 2024.

 The ministry's spokesman, Abdul Zahra Al-Hindawi, said in a press statement, "The ministry has completed the requirements for conducting the population census," stressing that "the percentage of completion of the requirements for enumeration and numbering reached 96% in all governorates, except for the governorates of the Kurdistan Region, which reached 65%."

Al-Hindawi added, "The Ministry of Planning is anticipating the census as an event that has been absent from Iraq for 27 years, and has worked to provide all requirements for conducting the population census on 11/20-21/2024."

He added, "The population census project is huge and large and includes an inventory of everything above ground, including buildings, homes, and residential facilities," stressing, "the development of a comprehensive plan by the Ministry of Planning."

He explained that "the inventory and numbering process was preceded by aerial photo census operations for all buildings throughout Iraq," stressing that "the inventory and numbering operations witnessed the addition of 10% of buildings through aerial photos, which records the expansion of the construction and building movement in Iraq."

Al-Hindawi said, "The ministry has prepared 40,000 well-trained researchers to record population census data," stressing, "The process of training 80,000 enumerators has begun, so that the total number of researchers will be 120,000."

He stressed that "the census staff is capable of completing its tasks in the required manner," while he explained that "the census process is distributed to every 100 families by a researcher to record their basic data (number of individuals, gender, age)," stressing that "the announcement of the initial results includes the general census (number of females + number of males) and the population of each governorate."

He added, "The census process will continue until December 3, 2024. The counted family will be referred to record data (housing, health and education), and its results will be the end of the census."  LINK

Kimberly:  Imo question so are we waiting on the census ? or is everything done for monetary reform?

MOakes:  I remember Delta stating yrs ago that the rate per the CBI always changed in the month of December. IMO, this is the way it looks now if the rate is changing in the year 2024. Hope it doesn't go into 2025. Per Sudani it is to change this year -----2024.  Will have to wait and see.. 

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Clare:  The Central Bank of Iraq decides to reduce interest to 5.5% in order to support economic growth

10/25/2024

The Central Bank of Iraq decided to reduce the interest rate from 7.5% to 5.5%, after the inflation rate decreased in Iraq.

According to the Ministry of Planning, the inflation rate has fallen from 8% to less than 3%.

Deputy Governor of the Central Bank, Ammar Hamad, said, "Based on the monetary policy orientations to enhance access to targeted inflation rates in a manner that does not conflict with the expected economic growth rates, and is consistent with the policy of developing deposits and increasing credit rates aimed at targeting projects, the Board of Directors of the Central Bank decided to reduce the monetary policy rate to 5.5% instead of 7.5%."

He added that the securities, namely Islamic deposit certificates and traditional transfers, were reactivated according to an annual plan with two terms, 14 days with a return of 4% and 182 days with a return of 5.5%.

He stressed that the maximum investment limit does not exceed 50% of the total private sector deposits at the bank.

The Central Bank stressed that the bank's investment ceiling in a single auction does not exceed 500 billion dinars.   LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  The new cash deposit centers [in Iraq], their job is to separate the new lower notes from the 3 zero notes that you [Iraqi citizens] are going to return...then you'll go to the ATMs or the banks to receive the lower notes, either physical or electronically.

Mnt Goat   Article:  "I WANT TO SPREAD AWARENESS ABOUT ELECTRONIC PAYMENT? READY TO USE IT?”   ...we read from this article that ONLY now are the banks finally issuing these debit cards that can be used globally, such as in the U.S...Yes, they are finally being released...Yes, it is time for them now...the rate is determined at the bank, when the transaction goes through at the bank when the card is used...NO rate on the card...The rate is controlled by the currency exchange or the CBI (official rate) whichever one they are linked to.

************

BRICS+ Expansion: NEW 13 Partners Admitted Following 2024 Summit in Kazan

Lena Petrova:  10-25-2024

https://www.youtube.com/watch?v=BGp1dFqSvJo

The US Sovereign Debt Crisis is Getting Worse, Faster

Heresy Financial:  10-24-2024

TIMECODES

0:00 Intro

0:25 National Debt

1:41 National Deficit

2:08 Interest Payments on the Debt

5:48 Distribution of Maturity on the National Debt

7:13 How Much Debt is Maturing

8:07 Deflationary Death Spiral

https://www.youtube.com/watch?v=4uMZ9CZiYBs

Economist’s “News and Views” Friday 10-25-2024

Vince Lanci Recaps The BRICS Summit To End Dollar Dominance

Arcadia Economics:   10-25-2024

The 2024 BRICS Summit is now complete, where one of the primary topics for discussion was ending the dominance of the dollar system.

To find out more about what happened, what didn't occur, and where it goes from here, Vince Lanci has a recap of the Summit.

https://www.youtube.com/watch?v=GJAgsd4O4XI

Looming Market Realignment! Feat Michael Oliver - LFTV Ep 196

Kinesis Money:  10-25-2024

In this week’s Live from the Vault, Andrew Maguire welcomes back Michael Oliver to examine the instability gripping the US stock market and the looming realignment that could prompt asset reallocations towards safe havens such as physical gold.

The founder of Momentum Structural Analysis underscores the ongoing devaluation of fiat currencies and stresses the importance of tangible assets, forecasting a surge in silver prices driven by rising demand in emerging markets.

https://www.youtube.com/watch?v=RqgIL6AgN5M

LIVE! What JP Morgan Bank CEO Jamie Dimon Just Said IS FRIGHTENING! (And Its The TRUTH).

Greg  Mannarino:  10-24-2024

https://www.youtube.com/watch?v=dUoXgrtcjk8

Seeds of Wisdom RV and Economic Updates Friday Morning 10-25-24

Good Morning Dinar Recaps,

RIPPLE SUBMITS FORM C IN SEC CASE, HIGHLIGHTING 4 KEY ISSUES: DETAILS

The appeal focuses on specific legal questions rather than a sweeping examination of the regulatory classification of cryptocurrencies.

Ripple Labs has stepped up its legal battle with the U.S. Securities and Exchange Commission (SEC) after filing its Civil Appeal Pre-Argument Statement, also known as Form C.

The filing comes only days after the SEC entered a last-minute appeal against several parts of a 2023 judgment which found that Ripple’s programmatic sales of its native XRP token to retail investors did not break U.S. securities laws.

Major Points of Contention
In its statement shared on X by lawyer James K. Filan, the crypto payments company outlined four fundamental questions for the Second Circuit Court of Appeal to consider.

▪️The first concerns whether an “investment contract” under the Securities Act of 1933 must include a formal agreement, post-sale obligations, and the right for buyers to receive profit from sellers. This definition could potentially reshape the understanding of digital asset transactions.

▪️Ripple’s second point is challenging the lower court’s ruling that its XRP transfers met the criteria established in SEC vs. W.J. Howey Co. This case, which gave rise to the Howey Test, defined the conditions under which something is considered an investment contract.

Ripple is arguing that its transactions did not represent an investment of money in a common enterprise with profits expected solely from the company’s efforts.

▪️The San Francisco-based firm also raised a third important issue regarding “fair notice.” It claims it gave ample evidence to potential XRP buyers showing the uncertainty surrounding cryptocurrencies in as far as federal laws apply to them.

This point is key to Ripple’s defense because it suggests that the SEC and other concerned agencies failed in their mandate to give clear guidance on the legality of the crypto company’s actions.

▪️Ripple’s final question in the filing contests the clarity required for issuing injunctions under the Federal Rules of Civil Procedure. It argues that the injunction issued to it by Judge Analisa Torres in a ruling where she also imposed a $125 million fine on the company merely instructs it to obey the law and lacks the necessary specificity and clarity.

Ripple’s Strategic Outlook
Speaking after the filing, Ripple’s Chief Legal Officer Stuart Alderoty insisted that the ongoing case is not about the broader classification of XRP as a security. He pointed out that, like Bitcoin (BTC), XRP currently enjoys a non-security status, which wasn’t challenged by the SEC in its Form C submission last week.

The lawyer believes this perspective allowed Ripple to focus its appeal on specific legal nuances rather than crypto’s overarching regulatory classification.

With both parties in the case having submitted their briefings, experts say it is now up to the Second Circuit to issue a scheduling order that will streamline them.

According to Alderoty, the court will only look at the existing record, meaning it will not allow the introduction of new evidence into the process, a point the attorney believes could minimize disruptions and hasten the final judgment.

@ Newshounds News™

Source:  CryptoPotato

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Source:  Seeds of Wisdom Team RV Currency Facts

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